Insurance career: claims or underwriting???

Question

i am thinking about a career in insurance. i can't decide b/w underwriting or claims. i know there is more money in underwriting ,but how is the market in london in terms of the future of these to careers?? i have heard alot of claims jobs are going overseas.is this true???anyone have any insight into this industry.

Answer 1

UW pays better but can become monotanous.  If you are looking for a challenge and have the patience to wait high end liability claims are very interesting.  The person that commented about claims is right about low level claims handlers but off the mark when it comes to high level claims.  I have been in claims 8 years and enjoy it.

Answer 2

Having worked in this industry some years back, all the people who worked in claims are either stuck in dead end jobs or have changed their careers, some into underwriting.  All of those who were in underwriting are still in underwriting, still loving it and doing pretty nicely with it money wise.  I would go for underwriting, it will always be there and career progression is good, it is fun, lots of socialising and if you do well you will get a good name for yourself in the industry.  And who wouldn't want to walk around the Lloyds building?  It is just gorgeous.

Answer 3

Go into Underwriting, claims anyone can do it with little brainpower

Answer 4

Start your insurance career in Underwriting.  It is the foundation you'll need to climb up the career advancement ladder.  There are many opportunities for lateral or vertical advancement within the insurance industry once you've done some underwriting.  The majority of senior leaders in my company have all started behind the Underwriting desk.  Myself included (but I'm nowhere near the top just yet. :) )

Answer 5

Have you thought about broking? It is very varied and you need a knowledge of underwriting and claims.